The Economic Coordination Committee (ECC) of the Cabinet on Tuesday approved the transfer of management control in Pakistan National Shipping Corporation (PNSC) to the National Logistics Corporation (NLC).
An official statement said the ECC “granted in-principle approval for restructuring of PNSC of the Ministry of Maritime Affairs through sale of 30pc shareholding and transfer of management control to NLC.
Officials sate that PNSC has only 10 ships and it carries only 11% of cargo and Pakistan has to pay freight charges of about US $6 billion to foreign shipping companies. At present, approximately 90% of all export-import (EXIM) trade is handled by foreign-flagged vessels.
One of the most pressing challenges for the Pakistan National Shipping Corporation (PNSC) is the aging fleet of vessels. Many of its ships are reaching the end of their operational lifespan, making it increasingly difficult to operate profitably beyond 2030.
Besides, Pakistan National Shipping Corporation was once considered a symbol of Pakistan’s economic strength, but over time mismanagement, political interference, and flawed policies pushed the national institution into serious difficulties. The government is now preparing a new strategy to revive the corporation, under which National Logistics Cell will be given an important role.
At the time of independence, Pakistan began its maritime journey with only three commercial ships. However, keeping national needs and strategic requirements in view, the country’s fleet expanded to 41 ships by the 1960s. Later, in 1982, Pakistan National Shipping Corporation reached its peak with a fleet of 45 vessels, including oil tankers, bulk carriers, and cargo ships. During that period, the corporation not only played a vital role in national imports and exports but also generated profits for the national exchequer.
Today, however, the situation is entirely different. The fleet of 45 ships has shrunk to just 13 vessels, more than half of which are over 20 years old. Although the corporation technically posted a profit in fiscal year 2025, experts believe those figures cannot hide the institution’s real weaknesses. Significant declines in revenue, shrinking profit margins, and continuous deterioration in operational performance have weakened the foundation of the corporation.
According to analysts, around 90 percent of Pakistan’s maritime trade is currently being handled by foreign shipping companies, while the national corporation manages only a limited share. Due to this dependence, billions of dollars are transferred abroad every year, putting additional pressure on the national economy. In addition, sectors such as marine engineering, ship repair, insurance, and port services have also failed to achieve the desired level of development.
The government is now attempting to change the situation by involving the National Logistics Cell in the administrative affairs of Pakistan National Shipping Corporation. Under the plan, 30 percent shares of the corporation will be sold at market rates to raise capital for the purchase of modern ships and expansion of the national fleet.
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